With Facebook’s news today that it filed to raise $5 billion in an initial public offer and most analysts predicting that Facebook’s valuation will fall somewhere between a whopping $85 billion and $100 billion, everyone is talking about Facebook. Will Facebook’s IPO create hundreds of millionaires across employees and the tech industry? Will the site that had 845 million daily active users and earned $1 billion late last year on sales eventually peak with people everywhere clambering now as a result of the IPO filing to invest in the social network? Or will potential investors be deterred because of Zuckerberg’s majority control? No one knows for sure, but when our team at Ogilvy was offered the opportunity to attend Sydney’s first ever Facebook Studio Live event yesterday, we jumped at the prospect of getting the chance to spend the day with undoubtedly the world’s biggest and most powerful social network.
So, what happened at Facebook Studio Live? Hundreds of agency heads, clients and industry professionals gathered together on a rainy Wednesday afternoon at the trendy space at Carriageworks in Eveleigh. There has always been a cloud of mystery and secrecy that surrounds the Facebook brand, which was evident upon arrival. Small Facebook branded moleskins were handed out and guests not knowing what to expect were ushered into dark auditorium with microkitchens on either side of the room that included unlimited refreshments and snacks, we later learned a staple feature of every Facebook office. The crowd got to hear from superb speakers about the Facebook hacker culture, the evolution of Facebook over the past decade, creative solutions for advertising, and the deepest level of Facebook insights and metrics available to brands with additional ad spend (of course.) My top four key takeaways I took from the day are summarised below:
1) The most successful social campaigns have impact through ALL of the following: connections, engagement, influence, and integration. The best social marketers in the world don’t create campaigns that just have the BIG idea any more, they create social programs that scale in all four categories. How do you do this? It all starts with the standard creative brief and asking two key questions a) What is the key engagement insight? b) What is the social insight?
2) Don’t underestimate the power of the conversation calendar. More and more marketers are fighting for the same short-attention span on Facebook. So, what does this mean for brand pages? Facebook is about creating authentic relationships and creating a community management strategy and conversation calendar that demonstrates the following:
- Understand what motivates social behavior
- Have a clear purpose and authentic voice
- Create many meaningful and light-weight experiences
- Posting is like a dinner party, be a brilliant conversationalist
- Creative is both an art and a science
3) Facebook Studio online offers a fantastic wealth of global information and resources available to all marketers, brands, and agencies. The site aims to celebrate the great work of agencies and marketers and inspire others, while sharing resources to help strengthen existing Facebook campaigns. Take for example theFlair Fashion Tag campaign. This highly innovative and creative Facebook app developed by Belgian agencyDuval Guillaume Modem allowed people to easily tag pieces of clothing in photos and share them with friends. All “fashion tags” were then displayed on the Flair Facebook Page and the top submissions were also featured in a magazine, a nice integration between Flair’s offline and online presence. This campaign was one of the first ever to be featured on the site and even earned a Media Lion at Cannes last year.
4) The possibilities for brands on Facebook are boundless. Facebook allows brands to connect with consumers in a digital world with the same authenticity as the real world. According to Mark D’Arcy, Director of Creative Solutions at Facebook, successful Facebook campaigns for brands focus on utility, relevance, caring/sharing, and light-weight design, rather than disruption. If used smartly and strategically, a Facebook brand page is one of the most amazing devices for storytelling and understanding consumer insights.
There are just a few of the takeaways I took away from Sydney’s first ever Facebook Studio Live. I will be sharing more content and key learnings over the next few weeks!